This chapter investigates the relationships between banks in different countries through an empirical study based on interviews with the six leading Nordic banks and the Swedish export credit agency. The authors find that although all six banks have significantly reduced the number of...

We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...